What defines a successful entrepreneur?

Apart from having determination and perseverance, an entrepreneur needs to be clear-headed about his objectives and has to be motivated to want to make a positive difference. The successful entrepreneur possesses the kind of mindset and the qualities that lead him to his goal. To my mind the most critical traits and attitudes for this are :

• The ability to foresee failure : It is not uncommon for entrepreneurs to fail in their initial attempts or be unable to achieve the desired results. If you anticipate obstacles, you are better prepared to meet them. But more than that, you should look upon these failures as learning opportunities. Not only do they teach you not to repeat the same mistakes, they also make you stronger and more capable as you travel towards your end-goal.
• Learning to trust and to delegate : The successful entrepreneur knows when to step back and delegate work to colleagues. You need to recruit your employees wisely so that they learn the work correctly and can take over responsibility of jobs from you. You have to trust them to honour their commitments and leave you to manage at the macro level so that they can take care of the day-to-day operations.
• Being open to learning new skills, techniques : You never stop learning till the day you die. Successful entrepreneurs are aware of this and are always motivated to enhance their knowledge and skills. Any new knowledge or skill that is gained can be put to use somewhere or the other, whether it is related to your particular business or not. The minute you think you know it all is when you stop growing, and your business stops growing. Have an open mind about anything new and it will help you succeed in life
• Have faith in your instincts and intuition: There are no specific rules laid down for success in business. It is also not possible to always obtain the right advice or help. When running a business, remember that instinct and intuition play a very big role in telling you what to do. If your instincts are in conflict with facts and figures, chances are your instincts are right. So go by that – it will help in the long run.
• Being a risk-taker – Entrepreneurs need to be fearless when it comes to business. If you want to succeed in your business, inculcate the habit of undertaking risks. You do not have to be blind to the possible outcomes of your decision, but remember it is smarter to work out possible outcomes before you arrive at a final decision.